Calculations
Adjusted Actual Cost of the Solar System:
- Adjusted Actual Cost = Actual Cost - Subsidy
- Adjusted Actual Cost = 2,00,000 - 54,000 = 1,46,000
Annual Savings or Revenue from Solar System
Calculate the annual electricity generation by the solar system:
- Daily Generation = Solar Generation per Day × System Capacity
- Daily Generation = 4 kWh/day x 3kW = 12kWh/day
- Annual Generation = Daily Generation × Days in a Year
- Annual Generation = 12 kWh/day × 365 days/year = 4380 kWh/year
Calculating Payback Period
So, after factoring in the subsidy, actual solar generation, and local electricity rates, the payback period for the 3 kW solar system is approximately 3.34 years. This means you would recover your initial investment in about 3.34 years through the savings generated by the solar system.
